Hyundai Glovis reports record third-quarter revenue of 9 trillion won

Hyundai Glovis achieved record quarterly results for the third quarter, with revenue exceeding 9 trillion won for the first time. The company reported revenue of 9.0536 trillion won and an operating profit of 566.5 billion won, representing increases of 23.1% and 8.1% respectively compared to the same period last year.

The growth was primarily driven by the shipping and logistics sectors. Shipping revenue rose by 37.1% to 1.8137 trillion won, fueled by an aggressive expansion of non-affiliate business and optimized fleet operations. The logistics sector also saw significant growth, with revenue increasing by 17.9% to 2.9502 trillion won, supported by rising cargo volumes in North America.

In contrast, the distribution sector experienced a decline in profitability despite a 21.5% increase in revenue. Operating profit for this division fell by 18.7% to 115.3 billion won, impacted by a slowdown in the non-ferrous metal market and a strong Korean won.